The World Economy Until 1993

Following a marked slowdown in the period 1973/1985 world economic growth has gained momentum since the mid-eighties. The faster pace is expected to be maintained throughout the forecasting period. Assuming interest rates, exchange rates, and raw material prices to remain broadly stable world output is likely to increase 3½ percent and world trade 6 percent p. a. Growth in the industrialized countries will average almost 3 percent, according to the WIFO forecast.